The Facts About Income Tax

March 11, 2016, 10:00am

The tax code is so complex that the IRS Taxpayer Advocate estimates that it takes U.S. taxpayers and businesses 6.1 billion hours a year complying with filing requirements. If tax compliance were an industry, it would employ more than three million full-time workers.

Taxes can have a big impact on your finances.

This video takes a quick look at the history of taxes, the tax-management process, and who pays what in taxes.